State program
New York Life Sciences and Excelsior Research and Development Tax Credit
Research incentives delivered through the Excelsior Jobs Program and a dedicated refundable life sciences credit.
Program overview
New York does not operate a general-purpose research credit; instead it channels research incentives through discretionary economic development programs. The Excelsior Jobs Program provides a research and development component equal to a share of the federal credit attributable to New York for participants meeting job and investment commitments. Separately, the Life Sciences Research and Development Tax Credit provides a refundable credit to new life sciences companies during their early years, with the rate depending on employee count. Both programs are administered by Empire State Development.
Eligibility
Businesses admitted to the Excelsior Jobs Program under an executed agreement, or new life sciences companies certified by Empire State Development meeting the program's employment and expenditure criteria.
Benefits
Refundable credits against New York State tax, subject to program caps and annual performance certification.
Find out what your research actually qualifies for
A scoping conversation takes thirty minutes and costs nothing. You leave with a view on eligibility, likely credit range and the documentation you would need.